104 B St · Spiro, OK 74959

$105,000

3 bd · 2.0 ba · 1,087 sqft · SingleFamily public records · 46 Days on market

Built 1979 10,755 sqft lot Est $120k · 12% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.0/30.0
• ARV discount +13.0/15.0
• Appreciation +5.0/10.0
• DSCR +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Great location on the East side of Spiro. Only a short commute to and from Fort Smith. New carpet and wood laminate flooring. New paint throughout. Move in ready. Three bedrooms with 1 1/2 bathrooms. Metal roof. New cook stove in kitchen. To be sold "AS IS"

Key facts

• 0.25 acre lot
• Built 1979
• Listed 46 days

Property features AI

Exterior

• Parking: Attached carport; 1 covered parking space; Concrete parking surface
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank; Electricity available; Natural gas available; Cable available
• Home design: Single-family house; One story
• Construction: Brick and masonite construction; Metal roof; Slab foundation
• Exterior features: Covered porch; Covered patio; Partial backyard fencing; Cleared lot; Paved public road access

Interior

• Kitchen: Oven
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Eat-in kitchen; Blinds; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $-6 ($-73/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (23.2% below list).
• Recommended offer: $81k (23.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#275 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Spiro (rural): math 18% / reading 21% proficiency, ranked #178 of 270 in OK (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spiro Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 571 students, 0% FRL); Spiro Ms (math 16% / reading 18%, grade F, #193 of 345 statewide, top 60%, 202 students, 0% FRL); Spiro Hs (math 17% / reading 34%, grade F, #141 of 447 statewide, top 31%, 290 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Le Flore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• Le Flore County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $105k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,593 (23.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $119,570
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 D St	0.12mi	3/2.0	1,087 (0%)	10mo	$108,000	$99	86
19102 Daisy	0.53mi	3/2.0	1,092 (+0%)	10mo	$119,900	$110	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.42×
• Total profit: $12,221
• Equity at exit: $47,213

10-year hold

• IRR: 10.0%
• Equity multiple: 2.50×
• Total profit: $44,013
• Equity at exit: $72,760

Cash invested: $29,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74959

• Active inventory: 66
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $806 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$48 /mo · $581/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $-6

Break-even live

Break-even rent $814

Max offer price $103,920

Occupancy floor 96%

Sensitivity live

Price	-10% $53	-5% $24	+0% $-6	+5% $-36	+10% $-66
Rent	-10% $-70	-5% $-38	+0% $-6	+5% $26	+10% $58
Rate	-1.0pp $47	-0.5pp $21	base $-6	+0.5pp $-33	+1.0pp $-61

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Wortham Dr Spiro, OK	3.0	1.0	1000	$750	$0.75	15d	1	0.88mi
214 Wortham Dr Spiro, OK	2.0	1.0	700	$675	$0.96	15d	1	0.88mi
201 S Ash St Spiro, OK	2.0	1.0	700	$750	$1.07	15d	1	1.15mi
118 NE 3rd St Spiro, OK	2.0	1.0	1469	$1,100	$0.75	15d	1	1.17mi

Listing history 24 events

1. 2026-06-21
   days on market $105,000 Active 46 DOM
2. 2026-06-19
   days on market $105,000 Active 44 DOM
3. 2026-06-18
   days on market $105,000 Active 43 DOM
4. 2026-06-17
   days on market $105,000 Active 42 DOM
5. 2026-06-17
   price $105,000 Active 41 DOM
6. 2026-06-16
   days on market $110,000 Active 41 DOM
7. 2026-06-15
   days on market $110,000 Active 40 DOM
8. 2026-06-14
   days on market $110,000 Active 38 DOM
9. 2026-06-13
   days on market $110,000 Active 37 DOM
10. 2026-06-10
    days on market $110,000 Active 35 DOM
11. 2026-06-09
    days on market $110,000 Active 34 DOM
12. 2026-06-08
    days on market $110,000 Active 33 DOM
13. 2026-06-07
    days on market $110,000 Active 32 DOM
14. 2026-06-05
    days on market $110,000 Active 29 DOM
15. 2026-06-02
    days on market $110,000 Active 27 DOM
16. 2026-06-01
    days on market $110,000 Active 26 DOM
17. 2026-05-31
    days on market $110,000 Active 25 DOM
18. 2026-05-30
    days on market $110,000 Active 24 DOM
19. 2026-05-20
    status Active
20. 2026-05-20
    price $110,000
21. 2026-05-09
    status Pending
22. 2026-04-22
    listed $115,000 Active
23. 2021-07-22
    soldstatus $54,000
24. 2017-06-28
    soldstatus $55,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $581 · $48/mo
• Projected year-2 tax: $945 · $79/mo
• Expected delta: +$364/yr (+$30/mo · 62.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,671
• − Mortgage interest: −$5,882
• − Property taxes: −$581
• − Insurance: −$525
• − Repairs & maintenance: −$774
• − Management: −$774
• − Depreciation: −$3,055
• Taxable loss: −$1,918
• Est. tax savings @ 24.0%: +$460
• After-tax cash flow: $387/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spiro
• NCES district ID: 4028200
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $38,031
• Composite: 16.35/100
• National rank: #9204
• State rank: #178 of 270 in OK

Livability — Spiro

• Score: 61/100
• State rank: #275
• US rank: #17347

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spiro, OK
• Population (ZIP): 6,156

Population outlook (Le Flore County) Hauer SSP2

• Today (2025): 48,504 people
• By 2030: 47,474 · -2.1%
• By 2040: 44,914 · -7.4%
• By 2050: 42,239 · -12.9%
• By 2075: 35,071 · -27.7%
• By 2100: 25,949 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 12% Two or more races 9% Black 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Le Flore

• 2024 margin: Solid R (+64.8) · D 17.0% · R 81.8% · Other 1.3%
• 2008→2024 swing: -26.1pp toward R · 2008: -38.6pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.4 2016: R+58.7 2012: R+41.1 2008: R+38.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+100.0% since first listed

6 events — show timeline

• 2026-05-20 Relisted — WRVBOR
• 2026-05-20 Price Changed $110,000 WRVBOR
• 2026-05-09 Pending — WRVBOR
• 2026-04-22 Listed $115,000 WRVBOR
• 2021-07-22 Sold (Public Records) $54,000 Public Records
• 2017-06-28 Sold (Public Records) $55,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $581 · +4.1% YoY. Source: county tax records.